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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2008
Check here if Amendment [ ]; Amendment Number:
-----------------------
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: The Blackstone Group L.P.
Address: 345 Park Avenue
New York, NY 10154
Form 13F File Number: 28-
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Robert L. Friedman
Title: Authorized Person
Phone: (212) 583-5000
Signature, Place, and Date of Signing:
/s/ Robert L. Friedman New York, NY May 15, 2008
---------------------- ------------ ------------
[Signature] [City, State] [Date]
Report Type (Check only one):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported
by other reporting manager(s).)
Form 13F Summary Page
Report Summary:
Number of Other Included Managers: 3
Form 13F Information Table Entry Total: 66
Form 13F Information Table Value Total: $4,897,665 (thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
Number Form 13F File Number Name
----- -------------------- ----
1 28- Blackstone Capital Partners V L.P.
2 28-12319 Blackstone Kailix Advisors L.L.C.
3 28-12332 GSO Capital Partners LP
Explanatory Note:
The Blackstone Group L.P. is managed and operated by its general partner,
Blackstone Group Management L.L.C., which is in turn wholly-owned by
Blackstone's senior managing directors and controlled by its two founders, Mr.
Stephen A. Schwarzman and Mr. Peter G. Peterson.
FORM 13F INFORMATION TABLE
THE BLACKSTONE GROUP L.P.
FOR QUARTER ENDED MARCH 31, 2008
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Name of Issuer Title of CUSIP Value (x Shrs or prn SH/ Put/Call Investment Other Voting Authority
Class $1000) amt PRN Discretion Managers Sole Shared None
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AbitibiBowater Inc. COM 003687100 $837 64,821.85 SH SOLE X
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AECOM Technology
Corporation COM 00766T100 $141,602 5,444,140 SH SOLE 3 X
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Airmedia Group Inc. SPONSORED ADR 009411109 $745 46,875 SH SOLE X
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Alliance Data Systems
Corporation COM 018581108 $136,249 2,867,800 SH SOLE 1 X
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Allied Waste
Industries, Inc. COM 019589308 $517,873 47,906,868 SH SOLE X
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Applied Micro Circuits
Corp. COM NEW 03822W406 $13,462 1,874,998 SH SOLE 2 X
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Barclays Bank PLC IP MSCI IND 36 06739F291 $810 12,300 SH SOLE X
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BHP Billiton Ltd. SPONSORED ADR 088606108 $164,625 2,500,000 SH SOLE 2 X
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Bunge Limited COM G16962105 $19,240 221,450 SH SOLE 2 X
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Calpine Corporation COM NEW 131347304 $89,982 4,885,041 SH SOLE X
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Calpine Corporation COM NEW 131347304 $63,579 3,451,623 SH SOLE 3 X
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Chesapeake Energy Corp. COM 165167107 $46,150 1,000,000 SH SOLE 2 X
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China Mobile Limited SPONSORED ADR 16941M109 $251 3,350 SH SOLE X
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China Nepstar Chain
Drugstore SPONSORED ADR 16943C109 $1,360 100,000 SH SOLE 2 X
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Citadel Broadcasting
Corp. COM 17285T106 $9,960 6,000,000 SH SOLE 2 X
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Name of Issuer Title of CUSIP Value (x Shrs or prn SH/ Put/Call Investment Other Voting Authority
Class $1000) amt PRN Discretion Managers Sole Shared None
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Citrix Systems Inc. COM 177376100 $39,596 1,350,000 SH SOLE 2 X
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CKE Restaurants, Inc. COM 12561E105 $20,819 1,855,500 SH SOLE 3 X
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Comcast Corporation CL A 20030N101 $5,802 300,000 SH SOLE 3 X
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Comerica Incorporated COM 200340107 $13,155 375,000 SH PUT SOLE X
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Comerica Incorporated COM 200340107 $5,262 150,000 SH PUT SOLE 3 X
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Consol Energy Inc. COM 20854P109 $86,488 1,250,000 SH SOLE 2 X
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Continental Airlines
Inc. CL B 210795308 $38,981 2,027,100 SH SOLE 2 X
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CVR Energy Inc. COM 12662P108 $10,967 476,200 SH SOLE 2 X
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Dana Holding Corporation COM 235825205 $25,730 2,572,989 SH SOLE X
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Deere & Co. COM 244199105 $100,550 1,250,000 SH SOLE 2 X
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Delta Air Lines Inc. COM NEW 247361702 $51,600 6,000,000 SH SOLE 2 X
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Devon Energy Corp. COM 25179M103 $83,464 800,000 SH SOLE 2 X
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Eagle Rock Energy
Partners, L.P. UNIT 26985R104 $11,559 802,734 SH SOLE 3 X
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eBay Inc. COM 278642103 $59,680 2,000,000 SH SOLE 2 X
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Finisar Corp. COM 31787A101 $12,800 10,000,000 SH SOLE 2 X
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Foster Wheeler Ltd. SHS NEW G36535139 $70,775 1,250,000 SH SOLE 2 X
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Inverness Medical
Innovations. COM 46126P106 $39,130 1,300,000 SH SOLE 2 X
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Name of Issuer Title of CUSIP Value (x Shrs or prn SH/ Put/Call Investment Other Voting Authority
Class $1000) amt PRN Discretion Managers Sole Shared None
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iShares, Inc. MSCI TAIWAN 464286731 $336 21,200 SH SOLE X
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iShares Trust (a) RUSSELL 2000 464287655 $85,363 1,250,000 SH PUT SOLE 3 X
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Laboratory Corp of
America Holdings COM NEW 50540R409 $44,208 600,000 SH SOLE 2 X
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Liberty Media
Corporation CAP COM SER A 53071M302 $8,500 539,994 SH SOLE 3 X
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Liberty Media
Corporation ENT COM SER A 53071M500 $48,902 2,159,976 SH SOLE 3 X
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Lodigan, Inc. COM PAR $.01 54021P403 $14,795 1,326,909 SH SOLE X
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Loews Corp - Carolina
Group. CAROLNA GP STK 540424207 $72,550 1,000,000 SH SOLE 2 X
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MGIC Investment Corp. COM 552848103 $42,027 3,991,138 SH SOLE 2 X
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Mirant Corporation COM 60467R100 $7,278 200,000 SH SOLE 3 X
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Morgan Stanley
Asia-Pacific Fund,
Inc. COM 61744U106 $631 34,967 SH SOLE X
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National Semiconductor
Corp. COM 637640103 $36,640 2,000,000 SH SOLE 2 X
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New Oriental Education
and Technology Group SPONSORED ADR 647581107 $214 3,300 SH SOLE X
Inc.
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NRG Energy Inc. COM NEW 629377508 $224,192 5,750,000 SH SOLE 2 X
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NRG Energy, Inc. COM NEW 629377508 $23,394 600,000 SH SOLE 3 X
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Olin Corporation COM PAR $1 680665205 $35,580 2,000,000 SH PUT SOLE X
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Orbitz Worldwide, Inc. COM 68557K109 $317,087 46,021,327 SH SOLE 1 X
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OSG America LP COM UNIT LPI 671028108 $6,875 500,000 SH SOLE 2 X
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Name of Issuer Title of CUSIP Value (x Shrs or prn SH/ Put/Call Investment Other Voting Authority
Class $1000) amt PRN Discretion Managers Sole Shared None
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Overseas Shipholding
Group Inc. COM 690368105 $22,763 325,000 SH SOLE 2 X
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Precision Castparts
Corp. COM 740189105 $163,328 1,600,000 SH SOLE 2 X
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Priceline.com Inc. COM NEW 741503403 $75,054 621,000 SH SOLE 2 X
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Rockwood Holdings Inc. COM 774415103 $65,540 2,000,000 SH SOLE 2 X
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Sandridge Energy, Inc. COM 80007P307 $43,500 1,111,111 SH SOLE 3 X
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Southern Union Co. COM 844030106 $5,818 250,000 SH SOLE 2 X
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SPDR Series Trust (b) UNIT SER 1 78462F103 $263,940 2,000,000 SH PUT SOLE 3 X
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Standard Pacific Corp. COM 85375C101 $12,844 2,642,812 SH SOLE 3 X
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Time Warner Inc. COM 887317105 $14,020 1,000,000 SH SOLE 3 X
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TranS1 Inc. COM 89385X105 $1,456 125,000 SH SOLE 2 X
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Transmeridian Exploration
Incorporated COM 89376N108 $1,548 1,739,500 SH SOLE X
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Transocean Inc. SHS G90073100 $87,204 645,000 SH SOLE 2 X
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Trico Marine Services,
Inc. NOTE 3.000% 1/1 896106AQ4 $5,538 5,000,000 PRN SOLE X
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TRW Automotive Holdings
Corp. COM 87264S106 $1,076,42946,060,285 SH SOLE X
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Union Pacific Corp. COM 907818108 $156,725 1,250,000 SH SOLE 2 X
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Virgin Mobile USA Inc. CL A 92769R108 $1,523 750,000 SH SOLE 2 X
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Weyerhaeuser Co. COM 962166104 $48,780 750,000 SH SOLE 2 X
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(a) Includes two series of iShares Trust put options.
(b) Includes three series of SPDR Series Trust put options.